Mortgage Forum

Mike

Hi all,I have a few questions, here's abit of history a friend filed Chapter 7 in February 2008, this was discharged yesterday.

He is behind 3 months on his countrywide payment, which comes out to be around $2k. He called CW today to see if he could get a modification and to see what options I had. Was told that nothing can be done to the account at this time as there is still a bankruptcy flag on the account. That it could take 10 days or longer after they receive discharge notice before anything can be done to the loan.

The interest rate is 9% fixed, this is a second mortgage on the home. He won't be able to refinance and credit is without a doubt horrible after chapter 7), He is the only one working in the home and has four kids. Is there anything that he can do here for a modification, does the bankruptcy give him any lead way for hardship or any other methods? He's just a hard working dad that's trying to keep the house and food on the table.

Any advice i can give him?